Press: The Star Stays

For weeks, right up to New Year's Eve, the issue remained in doubt.
Would the nation's capital remain a two-newspaper town? Or would the
deficit-plagued Washington Star be forced to call it quits?

Time Inc., which had bought the Star last February from Texas Financier
Joe L. Allbritton, found the paper's condition to be shakier than
anticipated. The Star was $10 million in the red in 1978, and losses of
$16 million were projected for 1979. Last October the Star's management
announced that Time Inc. would commit $60 million to a five-year
program aimed at making the paper...